Cost of retirement comfort soars, leaving most far short

Cost of Retirement comfort soars, leaving most far short

Here’s a clear summary of what the Clever Real Estate survey found about retirement savings and expectations — and how it reveals a widening gap between what retirees think is needed to retire comfortably and what most actually have:

📊 Key Findings from the Clever Real Estate Survey

Retirees say $823,800 is needed to retire comfortably in 2026.
This is the average amount retirees believe someone needs in savings and investments to have a comfortable retirement — up sharply from about $580,310 last year.
But the reality is far lower:
The average retiree actually has only about $288,700 saved. That’s roughly one-third of what many believe is necessary.
Nearly one in three retirees has no retirement savings at all.
About 29% of those surveyed reported having zero saved for retirement.
Expectations continue to rise while savings stagnate or fall.
The perceived amount needed jumped by nearly $250,000 in a year, even as the average savings figure edged down since last year.
Many retirees feel a retirement crisis is underway.
A majority believe the U.S. is facing a retirement crisis, and 92% say most people underestimate how much money is needed for a comfortable retirement.

📉 What This Gap Means

The survey highlights a significant disconnect between retirees’ expectations and their actual financial preparedness — a gap that has widened over recent years.
This may reflect rising costs of living, healthcare concerns, inflation, and other pressures that strain retirement budgets.
It also suggests that many retirees might need to adjust spending, consider part-time work, or rely more on Social Security and other income sources in retirement.

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Does your condo association needs funds for a new roof

By Didier Malagies • January 12, 2026

1. HOA / Condo Association Loans (Most Common) These are commercial loans made directly to the association, not individual unit owners. Typical uses Roof replacement Structural repairs Painting, paving, elevators, plumbing Insurance-driven or reserve shortfalls Key features No lien on individual units Repaid through monthly assessments Terms: 5–20 years Fixed or adjustable rates Can be structured as: Fully amortizing loan Interest-only period upfront Line of credit for phased projects Underwriting looks at Number of units Owner-occupancy ratio Delinquency rate Budget, reserves, and assessment history No personal guarantees from owners 2. Special Assessment Financing (Owner-Friendly Option) Instead of asking owners to write large checks upfront: The association levies a special assessment Owners can finance their portion monthly Reduces resistance and default risk Keeps unit owners on predictable payments This is especially helpful in senior-heavy or fixed-income communities. 3. Reserve Replenishment Loans If reserves were drained for an emergency repair: Association borrows to rebuild reserves Keeps the condo compliant with lender and insurance requirements Helps protect unit values and marketability 4. Florida-Specific Reality (Important) Given your frequent focus on Florida condos, this resonates strongly right now: New structural integrity & reserve requirements Insurance-driven roof timelines Older associations facing multi-million-dollar projects Financing often prevents forced unit sales or assessment shock Many boards don’t realize financing is even an option until it’s explained clearly. 5. How to Position the Conversation (What to Say) You can frame it simply: “Rather than a large one-time special assessment, the association can finance the project and spread the cost over time—keeping dues manageable and protecting property values.” That line alone opens the door. 6. What Lenders Will Usually Ask For Current budget and balance sheet Reserve study (if available) Insurance certificates Delinquency report Project scope and contractor estimate Bottom Line Condo associations do not have to self-fund roofs or major repairs anymore. Financing: Preserves cash Reduces owner pushback Helps boards stay compliant Protects resale values Tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329